Rich Teens Can’t Touch Bieber & Other News

Ready for a not-so-shocking fact? Justin Bieber is officially Hollywoodâ€™s richest teenâ€”but what is shocking is that he barely beat out Miley Cyrus.

People Magazine has released its list of cash raking kids, which was topped by the young super star and a few of his fellow performers. The catch is that the Biebs had a slight unfair advantage because of the epic success of his movie â€śNever Say Never.â€ť

The film turned out to be the highest grossing concert film of all time â€“ even more lucrative than Michael Jacksonâ€™s â€śThis Is It.â€ť

One thing we have learned is that you can never underestimate kidsâ€™ ability to spend their parentâ€™s money.

The list includes the likes of Willow and Jaden Smith, Selena Gomez, Taylor Lautner and even Nick Jonas. Find out their estimated cash earnings over at Zap2It.

In other news:

WARNING: this video is pretty extreme. Another angle of the stage collapsing at the Sugarland concert in Indiana has hit Youtube â€“ Diva Artist.